Patek Philippe unveils six exquisite watches in Milan, showcasing intricate craftsmanship and bold designs. Highlights include the Calatrava Chronograph, World Time Minute Repeater, and Aquanaut, with prices ranging from $43,761 to $874,200. Limited editions and Milan-inspired artistry make this collection a celebration of luxury and innovation.
Milan rewards attention to detail, and Patek Philippe has brought plenty of it to the Watch Art Grand Exhibition 2026. The new Patek Philippe watches unveiled in the Italian fashion capital begin with the Patek Philippe Calatrava Chronograph Instantaneous Perpetual Calendar Ref. 5978P, followed by the Patek Philippe Rare Handcrafts World Time Minute Repeater Ref. 5531G, the Patek Philippe Aquanaut Ref. 5167A, the Patek Philippe Perpetual Calendar Ref. 7147G and the Patek Philippe Minute Repeater Ref. 7047G. Across the five releases, platinum and white gold cases meet deep blue, vivid green and bold red, while intricate complications and Milan-inspired craftsmanship give the watches a distinctly Italian character. Here are the prices, edition sizes and key details for each new Patek Philippe watch.
The most technically demanding watch in the line-up, it is the first to pair Patek Philippe's manually wound chronograph with an instantaneous perpetual calendar, in the new CH 29-535 PS QI calibre of around 500 components. The 42mm platinum case has a navy blue dial with a black gradient rim, and the blue composite strap with red stitching adds a contemporary feel.
Price of Patek Philippe Calatrava Chronograph Instantaneous Perpetual Calendar Ref. 5978P: US$337,585
Limited edition: 120 pieces
This watch turns Milan into part of the dial. The two versions carry hand-crafted cloisonné Grand Feu enamel maps of the city by day and by night, set in a 40.2mm white gold case with 'Milano' picked out in red on the world-time ring. Inside is the self-winding R 27 HU movement, which combines the World Time display with a minute repeater.
Price of Patek Philippe Rare Handcrafts World Time Minute Repeater Ref. 5531G-012: US$874,200
Price of Patek Philippe Rare Handcrafts World Time Minute Repeater Ref. 5531G-013: US$874,200
Limited edition: 5 pieces each
The Aquanaut brings a sportier side to the Milan collection, with a 40.8mm stainless steel case, a blue sunburst dial and a midnight blue composite strap. Touches of red link it to the wider range, and the self-winding Calibre 26-330 S C makes it the easiest of the five to wear every day.
Price of Patek Philippe Aquanaut Ref. 5167A: US$43,761
Limited edition: 250 pieces
A lacquered green dial and a matching green alligator strap give this watch one of the collection's strongest Italian cues. The 38mm white gold case stays compact thanks to the ultra-thin self-winding Calibre 240 Q, which is just 3.88mm thick and has a 22-karat gold micro-rotor.
Price of Patek Philippe Perpetual Calendar Ref. 7147G: US$137,535
Limited edition: 100 pieces
The collection closes with its boldest colour: a vivid red lacquered dial and matching red alligator strap on a 38mm white gold case, with a carbon-style motif for a sportier note. Behind the dial is the self-winding R 27 PS minute repeater movement with an off-centre 22-karat gold micro-rotor. With only five pieces made, it is one of the rarest watches in the line-up.
Price of Patek Philippe Minute Repeater Ref. 7047G: US$707,074
Limited edition: 5 pieces
Milan has long been a city of craft, and Patek Philippe's Watch Art Grand Exhibition 2026 collection honours that heritage with enamel, colour and complication in equal measure.
| Patek Philippe Watch | Case | Movement | Price | Edition |
|---|---|---|---|---|
| Calatrava Chronograph Instantaneous Perpetual Calendar Ref. 5978P-010 | 42mm platinum | CH 29-535 PS QI | US$337,585 | 120 pieces |
| Rare Handcrafts World Time Minute Repeater Ref. 5531G-012 | 40.2mm white gold | R 27 HU | US$874,200 | 5 pieces |
| Rare Handcrafts World Time Minute Repeater Ref. 5531G-013 | 40.2mm white gold | R 27 HU | US$874,200 | 5 pieces |
| Aquanaut Ref. 5167A-014 | 40.8mm steel | 26-330 S C | US$43,761 | 250 pieces |
| Perpetual Calendar Ref. 7147G-010 | 38mm white gold | 240 Q | US$137,535 | 100 pieces |
| Minute Repeater Ref. 7047G-010 | 38mm white gold | R 27 PS | US$707,074 | 5 pieces |
Which is the most expensive new Patek Philippe watch in Milan?
The Rare Handcrafts World Time Minute Repeater Ref. 5531G-012 and Ref. 5531G-013 are priced at US$874,200 each.
Which is the most affordable Patek Philippe watch in the Milan collection?
The Patek Philippe Aquanaut Ref. 5167A is the most affordable, priced at US$43,761.
Which Patek Philippe Milan watch has the smallest production run?
The Ref. 5531G-012, Ref. 5531G-013 and Ref. 7047G are each limited to just five pieces.
Which Patek Philippe watch features Milan-inspired artwork?
The Rare Handcrafts World Time Minute Repeater Ref. 5531G features hand-crafted cloisonné Grand Feu enamel maps of Milan.